Fannie Mae, Freddie Mac set to tighten real-estate lending rules, WSJ reports
Mortgage financing firms Fannie Mae and Freddie Mac are set to impose stricter rules for commercial property lenders and brokers, following a budding regulatory crackdown on fraud in the multi-trillion dollar market, the Wall Street Journal reported, opens new tab on Monday.
Lenders would have to independently verify financial information related to borrowers for apartment complexes and other multifamily properties, the report said, citing people familiar with the preliminary plans.
Source: REUTER